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stc Group: Continued Brand Success and Global Expansion

Brand Finance
04 March 2024

stc is the most valuable telecoms brand in the Middle East. This year, stc saw a 12% increase in brand value to USD13.9 billion, having taken significant strides in its expansion strategy in both size and scope. The stc brand also strengthened further this year, holding the position as the fifth strongest telecoms brand, up five positions from last year.

Interview with Faisal Almalki

Faisal Almalki
Brand Management GM,
stc Group

stc Group has been recognized for the fourth year in a row as the most valuable telecoms brand in the Middle East. What are stc’s biggest advantages in ensuring this continued success?

We are delighted to receive this recognition again, a testament to our team’s exceptional leadership and forward-thinking mindset. Our success is down to two main factors. First, we are continuously exploring new digital frontiers, providing innovative solutions and experiences to our customers and are committed to position stc as a first mover in using best-in-class technology and infrastructure – this distinguishes us in the industry as a champion of digital transformation.

Second is our global growth mindset, finding innovative ways to connect people worldwide. stc Group comprises of 13 subsidiaries across Saudi Arabia, the Middle East, North Africa and Europe. In 2023, we expanded our global footprint even further by acquiring a 9.9% interest in Telefonica and launching TAWAL operations in three European countries. Over the past year, stc Group has focused on diversifying our global offer to connect people across countries and continents. With an increased global presence, we are strengthening our brand.

This year stc Group was also the first consumer brand in the Middle East to enter the 150 most valuable brands. What, in your view, has made this achievement possible?

We have consistently raised our game. We launched our DARE 2.0 strategy a few years ago to ensure we fully embrace our digital enablement mandate, accelerate our performance, improve our customer experience, and expand our scale and scope. We understand the need to be at the forefront – for example, our subsidiary iot squared's acquisition of Machinestalk raised stc Groups’ position as a frontrunner in the IoT sector. It is also down to our staff and colleagues. This achievement made possible through the talented people working at stc Group – a company is only as great as those who embody its mission. We are committed to nurturing local talent, a fundamental aspect of our success.

Looking ahead, what plans does stc Group have in place to further strengthen the brand and continue brand value growth?

stc Group recognizes our brand as a dynamic driver of growth, aligning with our ambitious expansion strategies. Embracing the concept of value multiplication, we have transformed our brand team into a comprehensive department responsible for managing and cultivating the brand equity across our entire portfolio. In the past year, this evolution has sharpened our focus on both protecting and enhancing brand value, emphasizing that our brand transcends a mere logo or name—it symbolizes our journey and achievements. We are dedicated to developing a robust brand management function that not only propels our business objectives but also enhances operational efficiency across the group.

A pivotal aspect of our brand strategy involves championing digital empowerment to support the Kingdom's Vision 2030 and actively participating in the sustainability conversation. As part of this commitment, we've established a Sustainability Innovation Hub in partnership with fellow GCC telecom companies.

Our collective goal is to synergize technology and climate action, paving the way for a sustainable, low-carbon economy. Through strategic brand leadership, stc Group is poised to navigate future challenges, foster digital enablement, and contribute to a greener world—all while driving our brand's value to new heights.

About the Author

Brand Finance is the world’s leading independent brand valuation and strategy consultancy. Headquartered in the City of London, we are present in over 20 countries.

For almost 30 years we have helped companies and organisations of all types to connect their brands to the bottom line.